Weststar Aviation secures partnership with KKR, reveals plans for IPO

Weststar Group Managing Director, Tan Sri Syed Azman Syed Ibrahim in his welcome speech said that this will be KKR’s first investment in Malaysia.

The newly signed partnership will provide offshore helicopter transportation services to oil and gas companies.

“It’s all about growth to strengthen Weststar for expansion to take the company to the next level,” said Syed Azman after inking the deal with the American company.

He also said that KKR has significant experience investing in the offshore aviation sector in Avincis Group and has a strong and experienced regional team in Southeast Asia.

“With KKR, we have a value-added partner who shares our vision of growing the Company into one of the world’s leading offshore helicopter services companies,” he said.

Member of KKR and Regional Head of Southeast Asia, Ming Lu said KKR is very pleased to partner with a high-performing company such as Weststar.

Ming said the partnership will be providing value added services apart from capital.

“We believe trends in the oil and gas sector in Malaysia and the broader region are long-term positive, and we look forward to supporting the company in its ambitious growth and expansion plans,” he said in a statement.

Meanwhile, Weststar Aviation Services also revealed plans to conduct an initial public offering (IPO) next year.

However, Syed Azman said he wants to increase the value of the company first and making it grow before initiating any move towards an IPO.

He said the partnership with KKR is one of the initial moves towards adding value to the company.

Syed Azman also said that the partnership will enable Weststar to expand its reach overseas and to continue to set a new benchmark for quality in global offshore aviation.

Founded in 2003, Weststar is a leading provider of offshore helicopter transportation services to the oil and gas industry.

With a large and modern fleet of world-class helicopters and a stable of blue chip oil and gas companies as customers, Weststar focuses on providing quality offshore helicopter services and is the largest of such providers in Southeast Asia.

KKR has a long track record of success in Southeast Asia, having invested nearly US$1.5 billion in companies based in this region since 2005.